Mary-Kate and Ashley Olsen’s five-figure backpack

Mary-Kate and Ashley Olsen are launching a new — and ridiculously expensive — handbag collection for The Row.

You know, we were pretty pumped when Mary-Kate & Ashley Olsen announced a new handbag collection for their The Row clothing line. After all, their clothes are pretty amazing, so we figured the bags would be the same.

Oh, they are — that’s not the problem. The problem is the price tag. You see, The always-fashionable Olsen sisters aren’t designing their handbags for us mortals. Need proof? Check out the price tag on their crocodile skin backpack: $39K.

That’s right — one little backpack from The Row costs more than many fashion-loving women make in an entire year. We get it — it’s chump change for the gazillionaire Olsen twins, but not us.

“We wanted to do a bag for every occasion,” Mary Kate said during the line’s launch party.

And fashion people are singing their praises.

“Bags had become quite unstructured — as a trend they got gi-normous,” Barney’s creative director Simon Doonan said. “To have a bag with precision design that’s more considered and beautifully executed is exactly right for now. I spent part of the evening with the black crocodile backpack, and that was a good feeling.”

The rest of the collection includes a day tote, doctor bag, classic shoulder bag, metal-framed minaudiere twin and laptop twin.

If you’re still interested — and won’t have to mortgage your house to afford it — you can get The Row handbags later this month at Barney’s stores.